Solana is a blockchain platform designed to host decentralized, scalable applications. Founded in 2017, Solana is an open-supply undertaking presently run through Solana Foundation primarily based totally in Geneva, at the same time as the blockchain become constructed through San Francisco-primarily based totally Solana Labs. Solana is a whole lot quicker in phrases of the quantity of transactions it may manner and has considerably decrease transaction costs as compared to rival blockchains like Ethereum.
Solana co-founder Anatoly Yakovenko posted a whitepaper in November 2017 describing the Proof of History (PoH) concept. PoH is a evidence for verifying order and passage of time among events, and it's miles used to encode trustless passage of time right into a ledger.
In the whitepaper, Yakovenko notes that blockchains that have been then publicly to be had did now no longer depend on time, with every node withinside the community counting on its very own neighborhood clock with out information of another participants' clocks withinside the community. The loss of a depended on supply of time (i.e., a standardized clock) intended that after a message timestamp become used to simply accept or reject a message, there has been no assure that each different player withinside the community might make the precise equal choice. PoH receives beyond this hurdle, with each node withinside the community capable of depend on the recorded passage of time withinside the ledger at the trustless foundation this is key to blockchain functioning.